Ambuja Cement shareholders have approved all the proposals put forward by the promoters in the extraordinary general meeting held on Saturday.
Of the total number of shareholders as of the cut-off date was 507,482 and among them, 78 shareholders attended the meeting through video conference.
Karan Adani, Executive Director of the company, chaired the meeting in the absence of the Chairman and his father, Gautam Adani.
The proposal to allow Adani Group company to invest ₹20,000 crore through the issue of preferential warrants was also voted in favour by 91 per cent of the voters. About 566 members polled 152.57 crore in favour of the investment proposal as against 447 members polling 14.41 crore votes against the proposal, accounting 9 per cent of the votes polled.
Among public institutions, 65 per cent voted in favour and 35 per cent voted the investment proposal.
Appointment of all the independent directors and board members were voted in favour.
All the Independent Directors, LIC Nominee Director, Ajay Kapur, whole-time director & CEO and Vinod Bahety, CFO were also present at the meeting.